Part 2/7:
Recent statistics indicate that a staggering 58.4% of Americans have saved less than $100,000 for retirement. This means more than half of Americans are not even close to the million-dollar mark. Additionally, 20% have saved between $1,000 and $999,999. Only 3.1% of Americans have accumulated $1 million or more for retirement, with a tiny fraction, 0.1%, having saved $5 million or more.